SouthState Corp Decreases Position in Canadian National Railway (NYSE:CNI)

SouthState Corp reduced its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,152 shares of the transportation company’s stock after selling 702 shares during the quarter. SouthState Corp’s holdings in Canadian National Railway were worth $117,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. purchased a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new stake in Canadian National Railway during the 4th quarter worth $30,000. Addison Advisors LLC lifted its holdings in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Coastline Trust Co acquired a new stake in shares of Canadian National Railway during the third quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $98.28 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The firm has a market capitalization of $61.76 billion, a PE ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $134.02. The business’s fifty day moving average price is $101.67 and its two-hundred day moving average price is $107.71.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, research analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is 47.66%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Jefferies Financial Group raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Susquehanna decreased their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.